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Treasury Secretary Scott Bessent’s comments on Bitcoin reserves caused market volatility before a late-day clarification stabilized sentiment. The US aims to expand its Strategic Bitcoin Reserve without taxpayer funds, aligning with President Trump’s executive order. Senator Cynthia Lummis advocates for the BITCOIN Act as the legislative path forward.
- The US Treasury clarified its strategy to expand the Strategic Bitcoin Reserve using forfeited assets and budget-neutral methods, aligning with a March executive order.
- Senator Cynthia Lummis advocates for the BITCOIN Act, proposing gold revaluation as a funding mechanism for the SBR without additional taxpayer burden.
- Market volatility ensued after initial comments from Treasury Secretary Scott Bessent, but prices stabilized post-clarification, with BTC trading at $118,751 at press time.
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